CANBERA (dpa-AFX) - Asian stock markets are trading mixed on Friday, following the slightly positive cues from European markets and lack of cues from Wall Street overnight, as traders continue to react to optimism about an interest rate cut by the US Fed in December after three Fed officials recently voiced their preference for lowering rates further and soft US economic data. The global equity rally over the past week also lost momentum. Asian markets ended mostly higher on Thursday.
The markets are now pricing in about an 84.7 percent chance of a 25 basis point cut in December, with three more reductions anticipated next year. This has soared from just 30.1 percent a week ago.
The Australian stock market is slightly higher in choppy trading on Friday after opening in the red, adding to the gains in the previous four sessions, following the slightly positive cues from European markets and lack of cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,600 level, with gains gold miners and technology stocks nearly offset by weakness in iron ore miners and financial stocks.
The benchmark S&P/ASX 200 Index is gaining 2.80 points or 0.03 percent to 8,620.10, after hitting a low of 8,588.80 and a high of 8,633.40 earlier. The broader All Ordinaries Index is up 23.00 points or 0.23 percent to 8,935.00. Australian stocks closed slightly higher on Thursday.
Among major miners, BHP Group is edging down 0.2 percent and Mineral Resources is gaining more than 2 percent. Fortescue and Rio Tinto are flat.
Oil stocks are mixed. Origin Energy and Santos are edging up 0.2 percent each, while Woodside Energy is edging down 0.1 percent and Beach energy is declining almost 1 percent.
Among tech stocks, Afterpay-owner Block is edging up 0.4 percent, Zip is adding almost 1 percent, Appen is gaining more than 2 percent, Xero is up more than 1 percent and WiseTech Global is gaining more than 5 percent.
Among the big four banks, ANZ Banking is losing almost 1 percent, while Westpac, Commonwealth Bank and National Australia Bank are edging down 0.3 to 0.5 percent each.
Gold miners are mostly higher. Resolute Mining is adding almost 1 percent and Evolution Mining is edging up 0.3 percent, while Newmont and Northern Star Resources are gaining more than 1 percent each. Genesis Minerals is edging down 0.4 percent.
In other news, shares in Star Entertainment Group are jumping almost 5 percent as it issued a cleansing prospectus to allow recently issued shares to Bally's to trade freely on the market.
Shares in Corporate Travel Management will remain suspended as its accounting scandal deepens, with 80 million pounds of UK revenue set to be reversed. UK and Europe chief executive Michael Healy has been stood down immediately on full pay.
In the currency market, the Aussie dollar is trading at $0.654 on Friday.
Snapping a three-session losing streak, the Japanese market is slightly lower in choppy trading on Friday, following the slightly positive cues from European markets and lack of cues from Wall Street overnight. The Nikkei 225 is falling below the 50,150 level, with weakness in exporters and technology stocks partially offset by gains in financial stocks.
The benchmark Nikkei 225 Index closed the morning session at 50,144.76, down 22.34 points or 0.04 percent, after hitting a low of 49,989.54 earlier. Japanese shares ended sharply higher on Thursday.
Market heavyweight SoftBank Group is gaining more than 1 percent, while Uniqlo operator Fast Retailing is losing almost 1 percent. Among automakers, Toyota is edging down 0.1 percent, while Honda is adding almost 1 percent.
In the tech space, Advantest is edging up 0.2 percent, while Tokyo Electron is declining almost 2 percent and Screen Holdings is losing more than 1 percent.
In the banking sector, Mizuho Financial is gaining almost 1 percent, while Mitsubishi UFJ Financial and Sumitomo Mitsui Financial are edging up 0.1 to 0.5 percent each.
Among the major exporters, Sony, Mitsubishi Electric and Canon are edging down 0.2 to 0.4 percent each, while Panasonic is losing almost 1 percent.
Among other major losers, there are no other major losers. OKUMA Corp.
Conversely, OKUMA is surging almost 5 percent and Japan Steel Works is gaining more than 3 percent, while Toppan Holdings and NTN are adding almost 3 percent each.
In economic news, retail sales in Japan increased 1.7 percent on year in October 2025, accelerating from a downwardly revised 0.2 percent rise in September 2025, surpassing market expectations for a 0.8 percent increase and marking the fastest pace since June.
Meanwhile, Japan's industrial production rose 1.4 percent on month in October 2025, beating market expectations of a 0.6 percent decline but easing from a 2.6 percent gain in the previous month. This marked the second consecutive monthly increase. On an annual basis, industrial production grew 1.5 percent, moderating from September's 3.8 percent growth.
Further, core consumer prices in Tokyo's Ku-area rose 2.8 percent on year in November 2025, unchanged from October and slightly above market expectations for a 2.7 percent increase. The reading stayed above the Bank of Japan's 2 percent target.
Japan's unemployment rate stood at 2.6 percent in October 2025, unchanged from the previous two months but slightly above market expectations of 2.5 percent. It remained the highest reading since July 2024. On a non-seasonally adjusted basis, the labor force participation rate stood at 64.2 percent, flat from September but up from 63.5 percent a year earlier.
In the currency market, the U.S. dollar is trading in the lower 156 yen-range on Friday.
Elsewhere in Asia, South Korea is down 1.2 percent, while Hong Kong, Malaysia and Indonesia are lower by between 0.1 and 0.5 percent each. New Zealand, Singapore and Taiwan are higher by between 0.5 and 0.7 percent each. China is relatively flat.
On Wall Street, the markets were closed for Thanksgiving Day on Thursday after closing mostly higher on Wednesday.
The major European markets moved to the upside on the day. The U.K.'s FTSE 100 edged up 0.02 percent, France's CAC 40 crept up 0.04 percent, and Germany's DAX climbed 0.18 percent.
Crude oil headed for the longest run of monthly losses in more than two years as traders looked ahead to an OPEC+ meeting this weekend and weighed the impact of U.S.-led efforts to end the conflict in Ukraine.
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